What is the Real Estate Market in the Rancho Palos Verdes Area

Are you interested in Rancho Palos Verdes real estate, whether it is to buy or sell a home? You should do some research ahead of time to see what the market is like before you decide on taking a plunge. That could either save you money if you are buying or get you more money if you are selling. 

What should you look for? We are here to help you there. Read on to learn more. 

What Is The Overall Market?

Rancho Palos Verdes is an upscale neighborhood – there is no getting around that. The homes are expensive, thanks to the location, especially with the views of the Pacific Ocean. That alone can drive up the price. 

People are still interested in buying, but the 2022 market has fallen off a bit compared to the 2021 market through September. The percentage for sales price is not too bad – a 4% drop, but it is still something to keep an eye on. The number of homes sold from year-to-year has dropped 42.5%, but that can be due to a number of variables.

What Is The Experience? 

It seems like the homes that are located here spend roughly a month on the market before closing. That isn’t too much of a surprise, since these are premium homes in a premium location. They don’t stay too long, though. 

Source: goldenvisasconsultancy.com

Also, it seems like people like to either come to Rancho Palos Verdes from San Diego or the other way around. Both areas offer great climates and things to do. Rancho Palos Verdes is also a shorter drive to Los Angeles than San Diego is. 

The Future

People like living in this area, so it will be intriguing to see what 2023 and beyond brings. It is consistently a fairly competitive market, so you will see people making offers on homes that are for sale, but you may or may not find any bidding wars occuring. People’s tastes in homes can vary. 

If you have your mind set on going to or leaving Rancho Palos Verdes and you have the capital, you can talk to a real estate agent and hear what they have to say. They can guide you through everything, and offer advice on what you should do, according to the market. Then you can go live your best life. 

Author Bio – Jonathan Ramirez began his real estate career with Keller Williams in 2015. Originally from The Bay Area, Jonathan graduated from San Jose State University in 2010 with a Bachelor’s Degree in Business Marketing. He is fluent in both English and Spanish and can’t wait to help you find your new home with The Prestige Team.

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